SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--TerraVia (NASDAQ:TVIA) a plant-based food, nutrition and specialty
ingredients company today announced that Health Canada has issued an
approval for its Whole Algal Protein ingredient for food use in Canada.
With this approval, TerraVia has successfully achieved regulatory
approval for its portfolio of AlgaVia® Whole Algae Ingredients,
including AlgaVia® Whole Algal Protein and AlgaVia® Whole Algal Flour,
for food use across North America.

“TerraVia continues to achieve regulatory clearance for its algae food
ingredients across regulatory bodies and geographies,” said Mark Brooks,
SVP, Food & Ingredients. “Health Canada’s approval of our protein-rich
whole algae ingredient provides new opportunities for customers across
Canada, Mexico and the United States to respond to consumer demand for
food and beverages containing plant-based protein.”

AlgaVia® Protein-Rich Whole Algae is unique among plant-based proteins
as it is a whole food ingredient containing over 60% vegan protein plus
a rich collection of fiber, lipids and micronutrients. It’s free of
known allergens, gluten-free, non-GMO and has a neutral flavor profile
and texture, making it a great option for fortifying food products that
meet current consumer demand.

According to Mintel’s “Alternative’s Everywhere” trend report, nearly 30
percent of Americans say they are eating more non-animal sources of
protein. The growing trend toward plant-based proteins is due to the
increasing popularity of vegetarian and vegan diets and demand for
allergen-free protein sources. TerraVia’s AlgaVia® Protein-Rich Whole
Algae can address a key market need for new, alternative plant-based
proteins that are vegan and free of known allergens as well as provide
an innovative solution for sustainable sources of protein.

AlgaVia® Lipid-Rich Whole Algae is a trans-fat and cholesterol free
lipid powder that helps enable the creation of healthier products with
satisfying taste and textures. This alternative healthier fat source can
enable the reduction or full replacement of dairy fats, oil and egg
yolks.

TerraVia is a plant-based food, nutrition and specialty ingredients
company that harnesses the power of algae, the mother of all plants and
earth's original superfood. With a portfolio of breakthrough ingredients
and manufacturing, the Company is well positioned to help meet the
growing need of consumer packaged goods and established and emerging
food manufacturers to improve the nutritional profile of foods without
sacrificing taste, and to develop select consumer brands. The Company
also manufactures a range of specialty personal care ingredients for key
strategic partners. Headquartered in South San Francisco, the Company's
mission is to create products that are truly better for people and
better for the planet. For additional information, please visit
TerraVia's website at www.terravia.com.

Forward Looking Statements

This press release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
about TerraVia, including statements that involve risks and
uncertainties concerning: the attributes of its ingredients, including
as to nutrition, taste, texture and sustainability; the future adoption
of its ingredients; future demand for plant-based foods and nutrition;
the impact of using its ingredients in products; consumer demand and the
market opportunities for its products; its commercialization and
production plans; its ability to innovate; market acceptance of its
products by food producers and consumers; and TerraVia's ability to
maintain its relationships with its partners. When used in this press
release, the words "will," "can," "anticipate," "intends" and other
similar expressions and any other statements that are not historical
facts are intended to identify those assertions as forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Any such statement may be influenced by a variety of
factors, many of which are beyond the control of TerraVia, that could
cause actual outcomes and results to be materially different from those
projected, described, expressed or implied in this press release due to
a number of risks and uncertainties. Potential risks and uncertainties
include, among others: TerraVia's limited operating history; its limited
history in commercializing products; implementation risk in deploying
new technologies; its limited experience in constructing, ramping up and
operating commercial manufacturing facilities; its ability to sell its
products at a profit; delays related to start-up and ramp-up of
production facilities; its ability to manage operational costs at
production facilities; its ability to enter into and maintain strategic
collaborations; successful product trials by its customers and market
acceptance of its products by end-users; its ability to obtain requisite
regulatory approvals; and its access, on favorable terms, to any
required financing. Accordingly, no assurances can be given that any of
the events anticipated by the forward-looking statements will transpire
or occur, or if any of them do so, what impact they will have on the
results of operations or financial condition of TerraVia.

In addition, please refer to the documents that TerraVia Holdings, Inc.
files with the Securities and Exchange Commission, including its Annual
Report on Form 10-K and its Quarterly Reports on Form 10-Q, as updated
from time to time, for a discussion of these and other risks. You are
cautioned not to place undue reliance on forward-looking statements,
which speak only as of the date of this press release. TerraVia is not
under any duty to update any of the information in this press release.